Bartronics America Inc., a wholly owned subsidiary of Bartronics India Limited, the pioneer in RFID and AIDC technologies in India, has been granted a patent from US Patents Office for designing and manufacturing a non-reusable tamper-resistant identification device, increasingly used in cash-less transaction systems.

“This patent for Bartronics America Inc (Ref. No. 20060187065) validates the company’s ownership of an important technology tool, which will pave way for cash-less transactions,” says Mr Sudhir Rao, Managing Director and CEO, Bartronics India Ltd. “Bartronics will continue to develop innovative solutions built on RFID technology to cater to various businesses on the global map.”

The technology is typically used in the form of a wristband or bracelet, which is seeing increasing usage as a convenient form of enabling cash-less transaction systems. With this technology, cashless transactions are processed automatically with just a swipe of the wrist. Bartronics’ solutions based on such wristbands begin by linking credit cards, debit cards, or stored value to the wristbands.

The identification device has a band and a non-reusable tamper-resistant fastening arranged to join opposite end regions of the band to fasten it around a limb of a user.

This system is widely used in amusement parks and water parks and casinos in the USA. “Bartronics is actively marketing the solution to one of the world’s largest leisure parks in the US besides the soccer clubs and formula I consortium,” says Mr Rao.

For those using prepaid cash wristbands, each purchase they make deducts a corresponding amount from the stored value. Funds remaining after the user finishes purchasing can be refunded to him or kept by the venue as breakage.

In case the wristband is linked to a credit or debit card, the venue will pre-authorize the card for a set amount, and as the user spends the system debits against the pre-authorized amount. When user approaches the limit of the pre-authorization, the system automatically re-authorizes the card for additional funds. This process ensures that the user will not purchase beyond his or her card’s limit. At the end of the event, the user’s credit or debit card is charged only for what he or she has purchased, and the pre-authorizations are released.

In India, Bartronics is pursuing the usage of such bands for cricket events and expects to obtain an in-principle acceptance during the current year, says Mr Rao. In Europe, Bartronics intends marketing the solution to cricket and football clubs while in Singapore, Malaysia and other Asian countries, the same solution is being sought by a number of casinos and large theme parks, he adds.

The cash-less bands and bracelets have a transponder circuit attached to them and is tamper-proof. Any attempt to remove the band from the remover’s limbs easily breaks down the circuit.

Circuitry in the transponder is electrically connected to the loop and arranged to become inoperative and disable the transponder if the loop is broken, making the device full-proof.

Bartronics India Limited has a target of crossing Rs. 500 crores in sales during the financial year 2008-09, a substantial portion of which is expected to be generated through its subsidiaries in the USA and Asia. The domestic business of Bartronics is expected to continue to grow at more than 100% rate over the next 2 years primarily due to increasing sales of Smart Cards.

Sourced From: Adfactors Public Relations Pvt Ltd

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Bartronics’ US arm announces $ 50mn acquisitions
• Bank of America posts $7.7B loss on special charge
• Bartronics India: Buy at…
• ZSL rated best technology integrators for virtualization
• Bartronics net profit up by 393.50% to Rs 23.52cr